Friday 18 April 2014
 
»
 
»
Story

Industries Qatar Q1 profit jumps 75pc to $576m

Doha, April 12, 2011

Petrochemicals and metals company Industries Qatar (IQ) posted a 75 per cent jump in first-quarter net profit on Tuesday, beating analysts' expectations on average.

The Gulf's second-largest chemical producer by market value made a first quarter net profit of QR2.1 billion ($576.6 million), according to a statement on the bourse website, compared with QR1.2 billion a year earlier.

The company reported QR4 billion in revenue for the first quarter, the statement said.

Analysts polled by Reuters on average expected the company to post quarterly profit of QR1.7 billion.

Industries Qatar is one of the regional petrochemicals companies that have struggled through the global economic downturn, although market fundamentals have shown signs of recovery since late 2009.

IQ shares closed down one riyal at 143.60 on the Qatar bourse after the results were announced.-Reuters




Tags: Industries Qatar | metals | petrochemicals |

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads

Buy high quality China wholesale Health & Beauty , Electronics, Sports & Outdoors , Computers, Video Games, Toys & Hobbies Cell Phones, Automobiles and other wholesale products directly from reliable Chinese wholesalers or Factories on DHgate.com